Browsing Category: "Forex Articles"
Before trading Forex you need to set up an account with a Forex broker . What exactly is
a broker? In simplest terms, a broker is an individual or a company that buys and sells
orders according to the trader’s decisions. Brokers earn money by charging a
commission or a fee for their services.
You may feel overwhelmed by the number of brokers who offer their services online.
Deciding on a broker requires a little bit of research on your part, but the time spent will
give you insight into the services that are available and fees charged by various
brokers.
Popularity: 100% [?]
The euro rallied broadly after ECB President Trichet delivered surprisingly hawkish comments following a widely expected unchanged rate decision.
Trichet indicated that some ECB officials argued for rate hike later this year, and the central bank is in a state of “heightened” alertness” over inflation. His comments added to expectations for a rate move on its July meeting. The euro rose sharply from around 1.54 to as high as1.5562 versus the dollar, and gained more than half a cent to a 9-day high at 0.7956 versus the sterling. Also the euro advanced against the yen to test a key resistance at 165.
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Popularity: 57% [?]
The dollar rallied sharply against the majors at the start of the week as traders focused on US economic reports released in the morning, breaking through the 106-level versus the yen. Propping the greenback higher today was an unexpectedly stronger report on pending home sales, prompting speculation that the struggling US housing market may be bottoming. Pending home sales for April surged to 6.3%, far exceeding estimates for an improvement to -0.5% from -1.0% a month earlier.
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Popularity: 55% [?]
Jawboning in recent sessions has propped the greenback sharply higher across the board, with the currency hovering near 107.40 against the yen and 1.5450 versus the euro. The verbal intervention of late consisted of commentary from Fed officials and US Treasury Secretary Paulson, which strongly benefited the dollar in tempering expectations for a continued policy of benign neglect in the currency’s steep declines.
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Popularity: 55% [?]
The greenback relinquished some of yesterday’s gains versus the euro and yen in the Wednesday session amid a dearth of US economic data. The calendar picks up on Thursday with several key reports including CPI, retail sales, weekly jobless claims and business inventories. The markets remain focused on sentiment over central bank rate decisions as comments from ECB officials continue to point toward at least one more rate hike.
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Popularity: 57% [?]
